Business
AbCellera Reports Q3 2022 Business Results
Total revenue of $101 million, compared to $6 million in Q3 2021 Four program starts in the quarter, bringing cumulative total to 92, up 33% from Q3 2021 Net
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $101 million, compared to $6 million in Q3 2021\n\n\nFour program starts in the quarter, bringing cumulative total to 92, up 33% from Q3 2021\n\n\nNet earnings of $0.09 per share on a basic and $0.08 on a diluted basis, compared to a net loss of ($0.08) per share (basic and diluted) in Q3 2021\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL), a technology company with a centralized operating system for next-generation antibody discovery, today announced financial results for the third quarter of 2022. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n“At AbCellera’s 10-year anniversary, we find ourselves in a remarkable competitive position, having scaled to a global company of nearly 500 employees and equipped with what is increasingly recognized as the industry’s leading engine for antibody discovery and development,” said Carl Hansen, Ph.D., founder, and CEO of AbCellera. “Looking forward, our strong cash position will allow us to continue executing on our strategy to integrate digital and experimental technologies to help deliver therapies to patients with greater speed and precision while also building a large and diversified portfolio of stakes in the next generation of antibody therapies.”\n\nQ3 2022 Business Summary\n\n\nEarned $101.4 million in total revenue.\n\n\nGenerated net income of $26.6 million, compared to a net loss of $21.4 million in Q3 2021.\n\n\nPrograms under contract remain unchanged at a cumulative total of 164 programs under contract with 38 different partners.\n\n\nStarted discovery on four programs, bringing the cumulative number of program starts to 92.\n\n\nReporting the advancement of an additional molecule to Phase 1 clinical trials, taking the total to seven molecules cumulatively advanced to the clinic.\n\n\nKey Business Metrics\n\n\n\nCumulative Metrics\n\n\n\n \n\n\n\nSeptember 30, 2021\n\n\n\n \n\n\n\nSeptember 30, 2022\n\n\n\n \n\n\n\nChange %\n\n\n\n\n\nNumber of discovery partners\n\n\n\n \n\n\n\n \n\n\n\n35\n\n\n\n \n\n\n\n \n\n\n\n38\n\n\n\n \n\n\n\n \n\n\n\n9%\n\n\n\n\n\nPrograms under contract\n\n\n\n \n\n\n\n \n\n\n\n155\n\n\n\n \n\n\n\n \n\n\n\n164\n\n\n\n \n\n\n\n \n\n\n\n6%\n\n\n\n\n\nProgram starts\n\n\n\n \n\n\n\n \n\n\n\n69\n\n\n\n \n\n\n\n \n\n\n\n92\n\n\n\n \n\n\n\n \n\...